Barclays Issues Positive Forecast for nCino (NASDAQ:NCNO) Stock Price

nCino (NASDAQ:NCNO) had its target price hoisted by Barclays from $34.00 to $44.00 in a report released on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts have also commented on NCNO. Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Tuesday, September 3rd. William Blair reiterated an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Macquarie reissued an “outperform” rating and issued a $40.00 price target on shares of nCino in a research report on Wednesday, October 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $43.00 price objective on shares of nCino in a report on Wednesday, August 28th. Finally, Stephens reiterated an “equal weight” rating and issued a $35.00 target price on shares of nCino in a report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.25.

nCino Price Performance

NASDAQ NCNO opened at $41.88 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $4.84 billion, a PE ratio of -155.22, a price-to-earnings-growth ratio of 35.00 and a beta of 0.55. nCino has a 12-month low of $27.47 and a 12-month high of $43.20. The company has a 50 day moving average price of $36.20 and a two-hundred day moving average price of $33.15.

nCino (NASDAQ:NCNO) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The firm had revenue of $132.40 million during the quarter, compared to analysts’ expectations of $131.06 million. During the same period in the prior year, the company posted ($0.02) earnings per share. nCino’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities analysts predict that nCino will post 0.05 earnings per share for the current fiscal year.

Insider Activity at nCino

In other news, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $35.05, for a total transaction of $136,169.25. Following the sale, the chief financial officer now owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. This trade represents a 1.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the transaction, the insider now owns 341,511 shares of the company’s stock, valued at $11,874,337.47. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,235,029 shares of company stock worth $117,599,204 over the last three months. Company insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

Several institutional investors have recently made changes to their positions in NCNO. Simplicity Wealth LLC bought a new position in nCino during the second quarter worth about $3,530,000. Select Equity Group L.P. raised its holdings in shares of nCino by 182.0% in the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock worth $800,000 after buying an additional 16,416 shares in the last quarter. Vanderbilt University lifted its position in shares of nCino by 192.3% during the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company’s stock worth $4,441,000 after buying an additional 92,481 shares during the period. Lecap Asset Management Ltd. acquired a new stake in nCino in the 3rd quarter valued at $745,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in nCino by 63.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,599 shares of the company’s stock valued at $5,452,000 after acquiring an additional 66,869 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

About nCino

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.